Tieton Capital Management LLC Invests $13.93 Million in American Coastal Insurance Corporation $ACIC

Key Points

• Tieton Capital Management bought 1.25 million shares of American Coastal Insurance worth approximately $13.93 million, making ACIC its seventh-largest holding and representing a 2.59% stake.
• Institutional ownership increased broadly, with hedge funds and other institutional investors collectively holding 22.11% of ACIC shares.
• ACIC recently traded at $9.45 after reporting quarterly EPS of $0.33, below the $0.42 consensus estimate. Analysts maintain a consensus “Hold” rating with an average price target of $13.00.

Tieton Capital Management LLC acquired a new stake in shares of American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,254,880 shares of the company's stock, valued at approximately $13,929,000. American Coastal Insurance accounts for 4.0% of Tieton Capital Management LLC's portfolio, making the stock its 7th biggest holding. Tieton Capital Management LLC owned 2.59% of American Coastal Insurance as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in American Coastal Insurance by 549.9% during the second quarter. JPMorgan Chase & Co. now owns 118,616 shares of the company's stock worth $1,319,000 after acquiring an additional 100,365 shares during the period. Russell Investments Group Ltd. lifted its holdings in American Coastal Insurance by 4,508.6% in the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company's stock valued at $30,000 after acquiring an additional 2,615 shares during the period. Quantbot Technologies LP boosted its position in American Coastal Insurance by 762.8% in the 2nd quarter. Quantbot Technologies LP now owns 32,374 shares of the company's stock worth $360,000 after purchasing an additional 28,622 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of American Coastal Insurance during the 2nd quarter worth approximately $767,000. Finally, Invesco Ltd. grew its stake in shares of American Coastal Insurance by 9.7% during the 2nd quarter. Invesco Ltd. now owns 19,674 shares of the company's stock worth $219,000 after purchasing an additional 1,736 shares during the period. Hedge funds and other institutional investors own 22.11% of the company's stock.

American Coastal Insurance Trading Down 0.6%

Shares of American Coastal Insurance stock opened at $9.45 on Thursday. The firm's 50 day moving average is $10.59 and its 200 day moving average is $10.96. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. American Coastal Insurance Corporation has a 1 year low of $9.33 and a 1 year high of $13.06. The firm has a market capitalization of $446.70 million, a PE ratio of 4.70 and a beta of -0.47.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.09). American Coastal Insurance had a return on equity of 27.95% and a net margin of 30.31%.The business had revenue of $82.60 million for the quarter. Equities research analysts forecast that American Coastal Insurance Corporation will post 0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ACIC shares. Raymond James Financial reissued an "outperform" rating and issued a $13.00 price objective on shares of American Coastal Insurance in a report on Tuesday, August 11th. Weiss Ratings cut shares of American Coastal Insurance from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Wall Street Zen cut shares of American Coastal Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Zacks Research raised shares of American Coastal Insurance from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $13.00.

About American Coastal Insurance

American Coastal Insurance Company NASDAQ: ACIC is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.

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